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Online sales leaped by 44.3 per cent on last year, and now account for a quarter of the total John Lewis business.

The trading update is the first in what is set to be a busy reporting period for retailers, as they reveal how they performed over the Christmas period.

Fashion retailer Next will release an update tomorrow, followed by Tesco, Sainsbury’s, Marks and Spencer, Morrisons, Debenhams and Mothercare.

It is expected that many will reveal growth in their online sales as consumers increasingly stay at home to do their Christmas and sales shopping.

Queuing for a bargain: Shoppers waited outside the John Lewis store in Oxford Street for the start of the sale

Online sales were up 17 per cent on Boxing Day 2011, according to market data firm Experian, with visits to online retailers hitting 113 million.

But the British Retail Consortium has already warned that the £5billion spending frenzy in the final weekend before Christmas will not be enough to save some flagging retailers. It described Christmas trade as ‘acceptable’ but ‘not exceptional’.

Howard Archer, chief UK and European economist at IHS Global Insight, said it was also likely that consumer spending has waned after a strong start to the clearance sales.

He said: 'We suspect that people are being careful in buying items that they don't really want or need in the sales.

'If this is the case, interest in the sales could fall away pretty quickly once the best of the bargains have gone. This would put pressure on retailers to cut prices even more, thereby further hurting their margins.'

John Lewis has traditionally outperformed its high-street rivals in recent years due to its strong online offering, new modern stores and more affluent customer base.

Managing director Andy Street said: 'I am delighted that John Lewis has delivered record breaking sales figures over the Christmas period and the first five days of clearance.

A hit: The sound-track features a version of The Power Of Love, made famous by Frankie Goes To Hollywood, sung by British singer Gabrielle Aplin

'In an economic climate which continues to be volatile, to have achieved these results is testimony to the strength of the John Lewis brand and the commitment of all our partners to give outstanding service.'

Despite the success of John Lewis, it is likely most retailers will face another challenging year ahead, according to a new report from Deloitte.

In a bleak report it warns the UK High Street is facing another year of ‘distress’, with some retailers not expected to survive the first three months.

Sales dash: Retailers on the High Street offer bargains to lure in shoppers

The High Street is being starved of badly-needed revenue as consumers use what money they have to pay down debt or save, warned Deloitte partner Lee Manning.

He said: ‘These figures are a stark reminder of the difficulties which continue to face the High Street. ‘Constrained household budgets mean it is certain that we will see further distress next year.’

He added: ‘Christmas trading appears to have been reasonable, though not spectacular and not enough to prevent insolvencies in the first quarter of 2013.’